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    Automotive Speaker Market Report

    Automotive Speaker Market Report
    Report code - SRTI174 Delivery - 2 Weeks
    Automotive Speaker Market Size, Share, Trend, Forecast, & Industry Analysis:2022-2028
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    Market Insights

    Automotive Speaker market is likely to grow from USD 5 billion in 2021 to USD 7.77 billion by 2028 at an impressive CAGR of 6.41% during the forecast period of 2022-2028.

    Automotive Speaker Market Size

    What is automotive speaker?

    Automotive Speaker is a car audio speaker matched for optimal sound quality. Typically, mid-bass drivers are paired with a pair of tweeters which are matched with a crossover to limit the frequency range each speaker must accurately reproduce.

    Automotive Speakers are of different types, such as 2-way speakers, 3-Way Speaker, and 4-Way Speaker, that are used in various Sales Channels, such as OEM and Aftermarket.

    Market Drivers

    The prime factor that is contributing to the demand for automotive speakers is mainly the increasing trend of using these speakers in various end-use industries, such as OEMs and aftermarket.

    Automotive Speaker Market Snapshot

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    Segments' Analysis

    By Type

    Based on the type, the market is segmented as 2-Way Speaker, 3-Way Speaker, and 4-Way Speaker. The 2-way speaker segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Further, its easy installation, small size, and high-quality audio at affordable prices is driving the growth of this segment.

    By Vehicle Type

    Based on the vehicle type, the automotive speaker market is segmented as passenger car and commercial vehicle. The passenger car segment held the larger share of the market in 2021 and is likely to maintain its leading position during the forecast period as well. Further, changing consumer lifestyles and increase in consumer disposable income are supporting the investments in high-quality sound systems in private vehicles, which in turn, are the major factors propelling the growth of this segment.

    By Sales Channel Type

    Based on the sales channel type, the market is segmented as OEM and aftermarket. The OEM segment held the larger share of the market in 2021 and is expected to remain dominant during the forecast period. Consumers are shifting their preference towards high-quality audio systems, which are leading the automakers to install enhanced in-car audio systems – a major factor expected to drive the growth of this segment.

    By Region

    In terms of regions, Europe is estimated to be the largest as well as the fastest-growing market for automotive speakers during the forecast period, with Germany, France, and the UK being the major countries offering lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as OEM and aftermarket, which is generating huge demand for automotive speakers and the presence of a large number of automotive speaker manufacturers in the European region. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. 

    Market Scope & Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making, and growth strategy formulation based on the opportunities present in the market.

    Automotive Speaker Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The automotive speaker market is segmented into the following categories. 

    By Type:

    • 2-Way Speaker
    • 3-Way Speaker
    • 4-Way Speaker

    By Vehicle Type:

    • Passenger Car
    • Commercial Vehicle

    By Sales Channel Type:

    • OEM
    •  Aftermarket

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Key Players

    Some of the major automotive speaker manufacturers are-

    • Alpine Electronics, Inc.
    • Bose Corporation
    • Clarion Co. Ltd
    • Continental Corporation
    • Focal JM Lab
    • Harman International Industries, Inc.
    • JVCKENWOOD Corporation
    • Kicker
    • Pioneer Corporation
    • Sound United.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the types by vehicle type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and , please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The automotive speaker market is expected to witness an impressive growth of 6.41% CAGR in the foreseeable future.

    Alpine Electronics, Inc., Bose Corporation, Clarion Co. Ltd, Continental Corporation, Focal JM Lab, Harman International Industries, Inc., JVCKENWOOD Corporation, Kicker, Pioneer Corporation, Sound United are among the key players in the automotive speaker market.

    Europe is expected to be the largest automotive speaker market during the next five years.

    The passenger car segment is expected to maintain its leading position in the automotive speaker market.

    The 2-way speaker segment is expected to remain dominant in the automotive speaker market in the coming years.

    The OEM segment is expected to remain dominant in the automotive speaker market during the next five years.

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